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Image Merger Appears Shaky

Details are still being worked out in an agreement that would have Image Entertainment Inc. bought out by a new media investment group. The deal between Chatsworth-based Image, a distributor and producer of home entertainment programming, and Nyx Acquisitions was set to close Feb. 26 but Nyx is seeking additional time. If talks do not result in an amended agreement by the end of the day Image will terminate the agreement. In exchange for extending the closing time, Nyx has agreed to increase the business interruption paid to Image. Nyx has already paid a $1.8 million fee. Nyx is an affiliate of Q-Black, LLC, a San Francisco-based new media and global investment group. Nyx will pay the agreed to purchase price of $2.75 per share. Image shareholders gave their approval of the merger on Feb. 24. Mark R. Madler

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